Equity Analysis /
Thailand

TH : Osotspa - Cost pressure dampened 2Q22 net profit

    Chaiyatorn Sricharoen
    Chaiyatorn Sricharoen

    Research Analyst, CFA

    Follow
    CGS-CIMB
    10 August 2022
    Published byCGS-CIMB

    OSP’s 2Q22 net profit of THB604m (-26% yoy, -19% qoq) was in line with our estimate but 10% below Bloomberg consensus. Despite easing cost pressure in 2H22F, we believe OSP will continue to face challenges due to declining market share. We maintain Hold with an unchanged TP of THB34.50.